IP Capital Partners & Edge Principal Advisors Secure $56.5M Loan For Boca Raton Office Property
2600 North Military Trail, Boca Raton, FL 33431
$56,500,000
$232/SF
Building Size
243,000 SF
Asset Type
Office
Closing
Oct 5, 2021
About this deal
AI
The property involved in this transaction is an office located at 2600-2700 North Military Trail in Boca Raton. The property spans 243,000 square feet and sits on 15 acres of land.
Summary of transation details
- Property Type: Office
- Transaction Amount: $56,500,000
- Address: 2600-2700 North Military Trail, Boca Raton
- Market: Boca Raton
The lender for this transaction is the Canadian Imperial Bank of Commerce (CIBC). The landlord involved in this deal are IP Capital Partners and Edge Principal Advisors. The deal was facilitated by brokers Chris Drew, Maxx Carney, Reid Carleton, and Jimmy Calvo from JLL.
The loan amount for this acquisition was $56,500,000. The loan type is floating-rate.
On the Map
$56,500,000
$232/SF
Office
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Players
Boca Raton Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93